The research assesses the breadth of the definition of "distributions" and asks whether this definition may be too broad. Is regulation found wanting because the definition results in improper protection of the interests of creditors, even with the modern approach of applying the solvency and liquidity test? In answering this question, the South African position is assessed and the position in New Zealand researched for comparative purposes. / Dissertation (LLM (Corporate Law))--University of Pretoria, 2021. / Mercantile Law / LLM (Corporate Law) / Unrestricted